SHFE #1 Lead Price Movement (2012-10-17)

SHANGHAI, Oct. 17 (SMM) – SHFE lead prices continued to fall and traders in China’s spot lead market lowered prices due to weak demand. Well-known brands including Nanfang and Chihong Zn & Ge were quoted between RMB 15,500-15,510/mt, with spot discounts overt the SHFE 1212 lead contract price at RMB 150/mt. Other brands, such as Mengzi and Dongling were offered at RMB 15,430-15,440/mt. Quotations for Shenqian were at RMB 15,360/mt. Continuous declines in lead prices prompted some cargo holders to limit sales, while downstream buyers were unwilling to purchase despite lower prices, leaving trading modest.